General Information

Government Type

Municipality

Entity

Salt Lake City

Public Body

Redevelopment Agency

Notice Information

Add Notice to Calendar

Notice Title

Salt Lake City Redevelopment Agency

Notice Tags

Business

Notice Type(s)

Meeting

Event Start Date & Time

July 11, 2023 02:00 PM

Description/Agenda

Board of Directors of the REDEVELOPMENT AGENCY OF SALT LAKE CITY AGENDA July 11, 2023 Tuesday 2:00 PM Council Work Room 451 South State Street, Room 326 Salt Lake City, UT 84111 SLCRDA.com ________________________________________ In accordance with State Statute and City Ordinance, the meeting may be held electronically. After 5:00 p.m., please enter the City & County Building through the main east entrance. This is a discussion among RDA Board Directors and select presenters. The public is welcome to listen, unless otherwise specified as a public comment period. Items scheduled may be moved and / or discussed during a different portion of the Meeting based on circumstance or availability of speakers. Item start times and durations are approximate and are subject to change at the Chair's discretion. ________________________________________ Generated: 11:42:44 A. Comments: 1. General Comments to the Board ~2:00 p.m. 5 min The RDA Board of Directors will receive public comments regarding Redevelopment Agency business in the following formats: 1. Written comments submitted to RDA offices, 451 South State Street, Suite 118, P.O. Box 145455, Salt Lake City, UT. 84114-5455. 2. Comments to the RDA Board of Directors. (Comments are taken on any item not scheduled for a public Hearing, as well as on any other RDA Business. Comments are limited to two minutes.) B. Public Hearing - individuals may speak to the Board once per public hearing topic for two minutes, however written comments are always accepted: NONE. C. Redevelopment Agency Business - The RDA Board of Directors will receive information and/or hold discussions and/or take action on: 1. Informational: Tax Increment Reimbursement Program Policy and Housing and Transit Reinvestment Zone Tax Increment Reimbursement Policy ~ 2:05 p.m. 30 min. The Board will receive a briefing about two policy updates. The first is a proposed amendment to the existing tax increment policy, which is designed to support development projects with wide-reaching, regional impact. The second would establish a new Housing and Transit Reinvestment Zone (HTRZ) Tax Increment Reimbursement Program Policy to account for the different requirements in a separate section of the Utah Code governing HTRZs, which differ from traditional project areas. 2. Motion: Releasing Funding for the Affordable Housing Initiative - Perpetual Housing Fund ~ 2:35 p.m. 25 min. The Board will receive a briefing from RDA staff regarding a draft term sheet creating a partnership with the Perpetual Housing Fund of Utah (PHF) for a tenant wealth building program. The Administration is requesting the Board review the draft term sheet, and if acceptable, release the $10 million from American Rescue Plan Act (ARPA) dollars approved in Budget Amendment No. 6 of Fiscal Year 2022-23 for this purpose. For more information on this item visit https://tinyurl.com/SLCHousingProposals. 3. Resolution: Amendment to Terms for Loan to Ville 1659, LLC, and Clarification of Housing Development Loan Program ~ 3:00 p.m. 30 min. The Board will be briefed about and will consider approving, a resolution that would modify the terms of Ville 1659 project's Housing Development Loan Program (HDLP) loan located at 1659 West North Temple. Changing the type of loan from a construction gap loan with cash-flow payments to a bridge loan with a balloon payment at the end of the term. The term of the loan would be reduced from 40 years to three, at a one percent interest rate rather than two percent. 4. Report and Announcements from the Executive Director TENTATIVE 5 min. Report of the Executive Director, including a review of information items, announcements, and scheduling items. The Board of Directors may give feedback or policy input. 5. Report and Announcements from RDA Staff TENTATIVE 5 min. The Board may review Board information and announcements. The Board may give feedback on any item related to City business, including but not limited to; - Property Update; - Project Milestone Update; and - Scheduling Items. 6. Report of the Chair and Vice Chair TENTATIVE 5 min. Report of the Chair and Vice Chair. D. Written Briefings - the following briefings are informational in nature and require no action of the Board. Additional information can be provided to the Board upon request: NONE. E. Consent - the following items are listed for consideration by the Board and can be discussed individually upon request. A motion to approve the consent agenda is approving all of the following items: NONE. F. Tentative Closed Session The Board will consider a motion to enter into Closed Session. A closed meeting described under Section 52-4-205 may be held for specific purposes including, but not limited to: 1. discussion of the character, professional competence, or physical or mental health of an individual; 2. strategy sessions to discuss pending or reasonably imminent litigation; 3. strategy sessions to discuss the purchase, exchange, or lease of real property: (i) disclose the appraisal or estimated value of the property under consideration; or (ii) prevent the public body from completing the transaction on the best possible terms; 4. strategy sessions to discuss the sale of real property, including any form of a water right or water shares, if: (i) public discussion of the transaction would: (A) disclose the appraisal or estimated value of the property under consideration; or (B) prevent the public body from completing the transaction on the best possible terms; (ii) the public body previously gave public notice that the property would be offered for sale; and (iii) the terms of the sale are publicly disclosed before the public body approves the sale 5. discussion regarding deployment of security personnel, devices, or systems; and 6. investigative proceedings regarding allegations of criminal misconduct. A closed meeting may also be held for attorney-client matters that are privileged pursuant to Utah Code § 78B-1-137, and for other lawful purposes that satisfy the pertinent requirements of the Utah Open and Public Meetings Act. G. Adjournment CERTIFICATE OF POSTING On or before 5:00 p.m. on Thrusday, July 6, 2023, the undersigned, duly appointed City Recorder, does hereby certify that the above notice and agenda was (1) posted on the Utah Public Notice Website created under Utah Code Section 63F-1-701, and (2) a copy of the foregoing provided to The Salt Lake Tribune and/or the Deseret News and to a local media correspondent and any others who have indicated interest. CINDY LOU TRISHMAN SALT LAKE CITY RECORDER Final action may be taken in relation to any topic listed on the agenda, including but not limited to adoption, rejection, amendment, addition of conditions and variations of options discussed. The City & County Building is an accessible facility. People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two business days in advance. To make a request, please contact the City Council Office at council.comments@slcgov.com, 801-535-7600, or relay service 711.

Notice of Special Accommodations (ADA)

People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two business days in advance. To make a request, please contact the City Council Office at council.comments@slcgov.com, 801-535-7600, or relay service 711.

Notice of Electronic or Telephone Participation

The public will be able to provide comments in-person in Room 326 of the City and County Building or online through Webex. For more information, including Webex connection information, please visit www.slc.gov/council/virtual-meetings.

Meeting Information

Meeting Location

451 South State Street
Room 326
Salt Lake City UT, UT 84111
Show in Apple Maps Show in Google Maps

Contact Name

Cindy Lou Trishman

Contact Email

cindy.trishman@slc.gov

Contact Phone

(801)535-6223

Notice Posting Details

Notice Posted On

July 06, 2023 04:22 PM

Notice Last Edited On

July 06, 2023 04:22 PM

Subscribe by Email

Subscription options will send you alerts regarding future notices posted by this Body.